FxWirePro: USD/SGD consolidates around 1.3570 mark, upside limited
USD/SGD is currently trading around 1.3583 marks. It made intraday high at 1.3600 and low at 1.3581 levels. Intraday bias remains bearish till the time pair holds key resistance at 1.3615 mark. A daily close above 1.3610…
It made intraday high at 1.3600 and low at 1.3581 levels.
Intraday bias remains bearish till the time pair holds key resistance at 1.3615 mark.
A daily close above 1.3610 will test key resistances at 1.3672, 1.3720, 1.3770 and 1.3790 marks respectively.
Alternatively, a consistent close below 1.3562 will drag the parity down towards key supports at 1.3570, 1.3538, 1.3490, 1.3465, 1.3422 and 1.3315 levels respectively.
Important to note here that 20D, 30D and 55D EMA heads down and confirms the bearish trend in a daily chart.
We prefer to take short position on USD/SGD around 1.3590, stop loss at 1.3615 and target of 1.3538.
